Coca-Cola Bottling says earnings rose in Q2
08/05/2014 5:01 PM
08/05/2014 5:02 PM
Second-quarter earnings rose for Charlotte-based Coca-Cola Bottling Consolidated, the company reported Tuesday.
The bottler earned $15.5 million or $1.67 per share during the second quarter of 2014, compared with $12 million or $1.29 per share during the same quarter in 2013.
Second-quarter results included expenses of $1.9 million for franchise territory expansion. In May, the bottler announced it was expanding its territory to include Morristown and Johnson City, Tenn. The move was part of an agreement involving Coca-Cola – which supplies bottlers with the concentrate used to flavor soda – and independent bottlers.
Strong sales and marketing efforts, and favorable costs for raw materials contributed to the results, chairman and CEO J. Frank Harrison III said in a statement.
“We are pleased with our second quarter, which included strong operating results and the successful transition of Johnson City and Morristown...as part of our planned territory expansion,” Harrison said.
The Charlotte-based bottler is the nation’s largest independent Coca-Cola bottler, with 6,500 employees in 11 states.
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